OPEC oil price remains below $70

Vienna, June 17 (DPA) The basket price of the Organisation of the Petroleum Exporting Countries (OPEC) rose slightly Tuesday but stayed below the $70 mark, the cartel announced Wednesday. One barrel (159 litres) of OPEC-produced crude oil settled at $69.68 Tuesday, inching upwards from $69.24 on the previous day.

The 12-member countries of the Vienna-based cartel produce some 34 percent of the world’s oil.